Brokerages Set Alerus Financial Co. (NASDAQ:ALRS) Price Target at $23.40

Shares of Alerus Financial Co. (NASDAQ:ALRS - Get Free Report) have earned an average recommendation of "Hold" from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.40.

Several equities analysts have recently commented on ALRS shares. Raymond James raised Alerus Financial from a "market perform" rating to an "outperform" rating and set a $24.00 target price for the company in a report on Tuesday, September 17th. Piper Sandler increased their target price on Alerus Financial from $22.50 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the company a "market perform" rating in a report on Monday, July 29th. Finally, DA Davidson increased their price objective on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st.

Institutional Trading of Alerus Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in ALRS. Federated Hermes Inc. raised its stake in shares of Alerus Financial by 380.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company's stock worth $30,000 after buying an additional 1,203 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Alerus Financial in the 4th quarter valued at about $81,000. SG Americas Securities LLC bought a new position in shares of Alerus Financial during the 3rd quarter valued at about $142,000. Bailard Inc. acquired a new position in shares of Alerus Financial in the 2nd quarter worth approximately $265,000. Finally, Inspire Investing LLC bought a new stake in shares of Alerus Financial in the 3rd quarter worth approximately $417,000. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Stock Performance

Shares of ALRS stock traded up $0.53 on Friday, hitting $23.23. 155,866 shares of the stock traded hands, compared to its average volume of 57,230. The company has a market capitalization of $459.49 million, a PE ratio of 66.37 and a beta of 0.66. The company's fifty day moving average is $21.79 and its 200 day moving average is $20.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85. Alerus Financial has a 1-year low of $16.80 and a 1-year high of $25.85.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.06). Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. The business had revenue of $80.39 million during the quarter, compared to the consensus estimate of $49.20 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. On average, equities research analysts predict that Alerus Financial will post 1.21 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, September 13th. Alerus Financial's payout ratio is currently 228.58%.

About Alerus Financial

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.